Written by: Alejandro Moreno-Salamanca and Cindy Paola Pinzón Ríos
Published by: AACSB Insights
MBA News Digest Comment: None.
Extracted Content: Society increasingly is demanding that companies articulate a purpose beyond profit and that they produce a positive societal impact based on that purpose. Particularly in response to the economic crisis caused by COVID-19, communities worldwide are demanding that entrepreneurs and executives become more socially active, going beyond creating jobs and generating wealth. Accordingly, companies are becoming social institutions of special influence in our current historical moment, as they have the power to transform the world by creating a more just social order and contributing to sustainable development.
Business schools must embed a set of purpose-driven principles into their DNA if they are to develop purpose-driven leaders who are passionate about having societal impact. Schools must orient all of their key activities—strategic planning, curricular development, research, teaching, and assurance of learning—toward a culture of contribution and service to society. With this holistic approach, business schools can instill in their students a strong sense of empowerment to effect social change through organizational leadership.